Abu Dhabi-based energy company Mubadala Petroleum and the Russia sovereign wealth fund Russian Direct Investment Fund (RDIF) have acquired a 49% stake in the Gazpromneft-Vostok oil venture from Russian oil company Gazpromneft. Mubadala Petroleum will own 44% of the venture while RDIF will acquire a 5% interest. Gazprom Neft remains the operator of the venture with a 51% interest.
Gazpromneft-Vostok operates several oil and gas assets, namely the Shinginsky, Zapadno-Luginetsky, Yuzhno-Pudinsky, Archinskiy, Urmansky, and Krapivinskoye blocks in Western Siberia (Russia), primarily in the Tomsk and Omsk regions. The company's production is sold into the Russian and international markets, mainly through the Eastern Siberia-Pacific Ocean oil pipeline. Its proved and probable (2P) hydrocarbon reserves stand at 40 Mt or 300 Mboe. Its 2017 oil production reached 1.6 Mt/year (33,000 bbl/d).